Modi vows to scale up infrastructure

Keen to scale up investments in infrastructure, Prime Minister Naren-dra Modi on Tuesday said rupee bonds will be launched in countries like Singapore to fund infrastructure projects in India.

Speaking at the India-Singapore Economic Convention, Mr Modi said reforms in India are happening in a big way and will transform the systems so that they perform.

“We are keen to scale up investments in next generation infrastructure including digital networks and clean energy," he said. “In addition to the core infrastructure, we are keen to invest in our social, industrial and agri-infrastructure to give better income and quality of life to our people.”

He said a National Investment and Infrastr-ucture Fund is being set up to leverage this, while tax-free infrastructure bonds will be issued soon for securing long term finance.